Goldman Lost $100M On Marcellus Natural Gas Bet

When construction on a key pipeline to transport Marcellus shale natural gas was delayed, Goldman Sachs lost more than US$100 million on a bet that Marcellus gas prices in the Marcellus shale would rise as takeaway pipeline capacity increased, The Wall Street Journal reports, citing people familiar with the trade. In the second quarter, Goldman Sachs reported net revenues in the Fixed Income, Currency and Commodities Client Execution division plunging by 40 percent on the year to US$1.16 billion, “due to significantly lower net revenues in…

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